Asterias Biotherapeutics (AST) Lifted to “Buy” at Zacks Investment Research

Asterias Biotherapeutics (NYSEAMERICAN:AST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $1.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.64% from the company’s previous close.

According to Zacks, “Asterias Biotherapeutics, Inc. is a biotechnology company. It is focused on the field of regenerative medicine. The Company’s technologies center on stem cells capable of becoming all of the cell types in the human body, a property called pluripotency. It develops therapies based on pluripotent stem cells to treat diseases or injuries in a variety of medical fields, with an initial focus on the therapeutic areas of neurology and oncology. Asterias Biotherapeutics, Inc. is based in Menlo Park, California. “

NYSEAMERICAN AST traded down $0.01 during trading hours on Thursday, reaching $0.88. The company’s stock had a trading volume of 66,646 shares, compared to its average volume of 163,456. Asterias Biotherapeutics has a fifty-two week low of $0.51 and a fifty-two week high of $2.30.

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in shares of Asterias Biotherapeutics in the second quarter worth approximately $663,000. Creative Planning boosted its position in shares of Asterias Biotherapeutics by 11.0% in the fourth quarter. Creative Planning now owns 200,189 shares of the biotechnology company’s stock worth $124,000 after acquiring an additional 19,900 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Asterias Biotherapeutics by 78.0% in the third quarter. Renaissance Technologies LLC now owns 187,100 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 82,000 shares during the last quarter.

About Asterias Biotherapeutics

Asterias Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing cell-based therapeutics to treat neurological conditions associated with demyelination, and cellular immunotherapies to treat cancer. Its clinical stage programs include AST-OPC1, an oligodendrocyte progenitor cell population derived from pluripotent stem cells that is in Phase I/IIa clinical trial for spinal cord injuries; AST-VAC2 is a non-patient-specific cancer immunotherapy derived from pluripotent stem cells for the treatment of non-small cell lung cancer; and AST-VAC1, a patient-specific cancer immunotherapy that has completed Phase II clinical trial for the treatment of acute myeloid leukemia.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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